ANNOUNCEMENT 27 Sep 2012
The Chilean Government has modified the applicable reductions on the import tariffs of raw sugar and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 861/2012. Aplica rebajas de derechos de aduana para la importación de azúcar cruda, azúcar refinada grados 1 y 2, y azúcar refinada grados 3 y 4, y subestándares. http://www.leychile.cl/Navegar?idNorma=1044146
On September 27, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 861 to establish new applicable discounts on customs duties on sugar for a one-month period starting on October 1, 2012. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 148.52 per tonne of raw sugar; USD 279.78 per tonne in refined sugars qualified as Grade 1 or 2; and USD 201.02 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 207.12, USD 337.22 and USD 259.16 per tonne respectively.
The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.